Citigroup Issues Positive Forecast for Nasdaq (NASDAQ:NDAQ) Stock Price

Nasdaq (NASDAQ:NDAQ) had its price target boosted by Citigroup from $78.00 to $84.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on NDAQ. TD Cowen reduced their target price on Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Bank of America decreased their price objective on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. StockNews.com raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Saturday, December 14th. Piper Sandler lifted their price target on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Barclays upped their price objective on shares of Nasdaq from $87.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and an average target price of $85.60.

Nasdaq Trading Down 2.7 %

NDAQ opened at $75.88 on Friday. The firm has a 50 day simple moving average of $79.23 and a 200 day simple moving average of $72.60. Nasdaq has a fifty-two week low of $54.90 and a fifty-two week high of $83.77. The company has a market cap of $43.61 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Nasdaq will post 2.79 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Insider Activity at Nasdaq

In related news, insider Pc Nelson Griggs sold 6,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.71, for a total value of $454,260.00. Following the completion of the transaction, the insider now directly owns 215,563 shares of the company’s stock, valued at approximately $16,320,274.73. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares in the company, valued at approximately $8,072,268.75. The trade was a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,459 shares of company stock valued at $3,811,808. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in Nasdaq in the 3rd quarter valued at about $27,000. Y.D. More Investments Ltd raised its stake in Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares during the period. Claro Advisors LLC acquired a new stake in shares of Nasdaq in the third quarter valued at approximately $33,000. Focused Wealth Management Inc bought a new position in shares of Nasdaq during the 3rd quarter worth approximately $35,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Nasdaq during the 3rd quarter worth approximately $42,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.